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So we are linking our supply-side activity with high-potential consumer markets.


BP MADE THE FIRST MOVE IN TERMS OF THE CREATION OF THE SUPERMAJORS WE CHANGED AND THE INDUSTRY FOLLOWED WITH AMOCO AND THEN SUBSEQUENTLY ACQUIRED CASTROL.


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With these shifts in demand and supply comes evolution on the company side. And the whole industry is facing up to this evolution. In the late ‘90s, BP made the fi rst move in terms of the creation of the supermajors, with our merger with Amoco and acquisition of Castrol: we changed and the industry followed. That resulted in the creation of very large enterprises.


I believe we are reaching the next stage in this corporate evolution, whereby companies will look to become more focused. The key measure for the industry will be around quality. BP has actually made that step to make quality its mantra. We will focus on areas where we can drive value.


Innovation


Profi le: Dev Sanyal, Executive Vice President and Group Chief of Staff, BP Plc. Dev Sanyal is a member of BP’s Group Executive Committee and is the accountable executive the or all of BP’s corporate activities in strategy and long-term planning, risk, economics, competitor intelligence, government and political affairs, policy and group integration and governance.


He joined BP in 1989 and has held a variety of international roles in London, Athens, Istanbul, Vienna and Dubai.


Source: www.bp.com © 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.


Technology is going to be an important differentiator and that area is a very important part of what we bring to the table. The reality is that countries and their oil sectors have access to capital markets and to service companies. So what they need from us is a unique technology or a unique proposition. Within BP, for instance, we’ve invested in our supercomputing facility in Houston – the largest of its kind. That’s going to be a very important part of our offering.


So the business paradigm for BP is evolving and BP is responding. I believe that component parts of the model will be oriented towards focus, discipline and choice, which is very different from the model that we used to have as an industry – one that drove growth through volume.


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